New York State Common Retirement Fund Has $6.38 Million Holdings in Rogers Co. (ROG)

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New York State Common Retirement Fund trimmed its stake in Rogers Co. (NYSE:ROG) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 64,355 shares of the electronics maker’s stock after selling 3,228 shares during the quarter. New York State Common Retirement Fund’s holdings in Rogers were worth $6,375,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. State of Alaska Department of Revenue grew its holdings in shares of Rogers by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 6,153 shares of the electronics maker’s stock worth $609,000 after purchasing an additional 95 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Rogers by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,868 shares of the electronics maker’s stock worth $284,000 after purchasing an additional 111 shares during the last quarter. Piedmont Investment Advisors Inc. grew its holdings in shares of Rogers by 3.2% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 4,381 shares of the electronics maker’s stock worth $434,000 after purchasing an additional 137 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Rogers by 22.9% during the fourth quarter. Bank of Montreal Can now owns 876 shares of the electronics maker’s stock worth $87,000 after purchasing an additional 163 shares during the last quarter. Finally, BB&T Corp grew its holdings in shares of Rogers by 10.5% during the fourth quarter. BB&T Corp now owns 2,313 shares of the electronics maker’s stock worth $229,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 99.80% of the company’s stock.

Shares of ROG opened at $154.49 on Friday. The company has a current ratio of 4.53, a quick ratio of 3.29 and a debt-to-equity ratio of 0.27. Rogers Co. has a 12-month low of $89.21 and a 12-month high of $163.13. The firm has a market cap of $2.92 billion, a PE ratio of 26.77 and a beta of 2.09.

Rogers (NYSE:ROG) last issued its quarterly earnings results on Wednesday, February 20th. The electronics maker reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.40. Rogers had a return on equity of 13.15% and a net margin of 9.97%. The business had revenue of $222.94 million for the quarter, compared to analyst estimates of $220.38 million. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts anticipate that Rogers Co. will post 5.93 EPS for the current fiscal year.

In other news, CEO Bruce D. Hoechner sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $160.04, for a total transaction of $320,080.00. Following the transaction, the chief executive officer now owns 72,291 shares of the company’s stock, valued at $11,569,451.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marc J. Beulque sold 3,890 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $152.50, for a total value of $593,225.00. Following the transaction, the vice president now directly owns 2,748 shares in the company, valued at approximately $419,070. The disclosure for this sale can be found here. Insiders have sold 22,032 shares of company stock worth $3,416,630 in the last ninety days. 0.96% of the stock is currently owned by insiders.

Several analysts have recently commented on the company. ValuEngine upgraded Rogers from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. B. Riley increased their target price on Rogers from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $155.00 target price on shares of Rogers in a report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $163.33.

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About Rogers

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. The company's Advanced Connectivity Solutions segment offers circuit materials and solutions for connectivity applications in wireless communications infrastructure, automotive, connected devices, wired infrastructure, consumer electronics, and aerospace/defense.

Further Reading: What is Call Option Volume?

Want to see what other hedge funds are holding ROG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rogers Co. (NYSE:ROG).

Institutional Ownership by Quarter for Rogers (NYSE:ROG)

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